Market Newsdesk

LAS VEGAS, June 29, 2021 /PRNewswire/ — Scientific Games Corporation (NASDAQ: SGMS) (“Scientific Games,” “SGC” or the “Company”) announced that the Company, with the support of its Board of Directors, including Executive Chair Jamie Odell and Executive Vice Chair Toni Korsanos, intends to divest its Lottery and Sports Betting businesses. Scientific Games is evaluating strategic alternatives to execute the divestitures for each business, respectively, including an initial public offering (“IPO”) or a combination with a special purpose acquisition company (“SPAC”), or a sale or a strategic combination with another business.

Jamie Odell, Executive Chair of Scientific Games, said “When I joined the Board in September 2020, I told stakeholders that we were focused on rapidly de-leveraging the balance sheet, unlocking the value of the Company’s products and technologies and creating a flexible, nimble company positioned to deliver above-market returns to investors. Today, we have announced major initiatives aimed at achieving each of these key objectives, recognizing significant value in each of the businesses and positioning the Company for sustainable growth, all as a result of the dedicated work of our teams.”

Barry Cottle, President and Chief Executive Officer of Scientific Games, said “Today’s announcement reflects key steps to optimize our portfolio and strengthen our balance sheet by significantly de-levering while also targeting investments in our largest growth opportunities. These steps will accelerate our path to become a content-led growth company focused on leading in both land-based and digital markets. Our company will be positioned to build great games that define the future of gaming, supported by platforms that power the best operators in the world. We believe these steps will enable us to capitalize on the high growth potential of each of our businesses, including their expanding digital content offerings and platforms, unlocking value for shareholders, customers, and employees. Each of our businesses will be better positioned to partner with their respective customers and to deliver long-term growth and profitability.”

Mr. Cottle continued, “At the conclusion of this process, the new company will consist of leading Gaming, iGaming and SciPlay businesses, all of which have great momentum and will collectively deliver great value. We will capitalize on the increasing convergence of these businesses, as players look to play their favorite games wherever and whenever they want to play. As the leading cross-platform global game company, we are uniquely positioned to take advantage of the incredible industry transition that is underway. Given this significant opportunity, we are targeting our digital businesses to be comparable in size to the land-based gaming business within three years. I’m confident that, with these steps, we are well positioned for future growth prospects.”

There can be no assurances that Scientific Games’ exploration of alternatives for its Lottery and Sports Betting businesses will result in any transactions or other actions by the Company. The Company does not intend to comment on or provide updates regarding these matters unless and until it determines that further disclosure is appropriate or required based on the then-current facts and circumstances.

Advisors

Macquarie Capital (USA) Inc. and Oakvale Capital LLP are serving as financial advisors and Cravath, Swaine & Moore LLP is serving as legal counsel to Scientific Games.

Investor Conference Call Information

Scientific Games will host a conference call to discuss the announcement and its go-forward strategy today, June 29, 2021, at 8:30 a.m. ET. Listeners can access the call live via a listen-only webcast. To access the call by telephone, please dial +1 (877) 842-4249 for the U.S. or +1 (412) 317-5420 for International and ask to join the Scientific Games Corporation call. A replay of the webcast will be archived in the Investors section on www.scientificgames.com.

About Scientific Games

Scientific Games Corporation (NASDAQ: SGMS) is the world leader in offering customers a fully integrated portfolio of technology platforms, robust systems, engaging content and services. The Company is the global leader in technology-based gaming systems, digital real-money gaming and sports betting platforms, table games, table products and instant games, and a leader in products, services and content for gaming, lottery and social gaming markets. Scientific Games delivers what customers and players value most: trusted security, creative entertaining content, operating efficiencies and innovative technology. For more information, please visit www.scientificgames.com, which is updated regularly with financial and other information about the Company. You can access our filings with the SEC through the SEC website at www.sec.gov or through our website, and we strongly encourage you to do so. We routinely post information that may be important to investors on our website at www.scientificgames.com/investors/, and we use our website as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC’s Regulation Fair Disclosure (Reg FD).

Investor Inquiries:

Jim Bombassei

Senior Vice President of Investor Relations
[email protected]

Media Inquiries:

Nick Lamplough / T.J. O’Sullivan / Lucas Pers, Joele Frank, Wilkinson Brimmer Katcher, +1 212 355 4449

Forward-Looking Statements
In this press release, Scientific Games makes “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “will,” “may,” “expect,” “believe,” “potential,” “intended,” and “should.” These statements are based upon management’s current expectations, assumptions and estimates and are not guarantees of timing, future results or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in our filings with the Securities and Exchange Commission (the “SEC”), including Scientific Games’ current reports on Form 8-K, quarterly reports on Form 10-Q and its latest annual report on Form 10-K filed with the SEC on March 1, 2021 (including under the headings “Forward-Looking Statements” and “Risk Factors”). Forward-looking statements speak only as of the date they are made and, except for Scientific Games’ ongoing obligations under the U.S. federal securities laws, Scientific Games undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

No Offer
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there by any sale of securities in any jurisdiction in which any such offer, solicitation or sale would be unlawful. Any securities to be offered may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/scientific-games-announces-decisive-steps-as-part-of-its-strategic-review-301321743.html

SOURCE Scientific Games Corporation

RESTON, Va., June 29, 2021 /PRNewswire/ — Comscore (NASDAQ: SCOR), a trusted partner for media planning, transaction and evaluation across platforms, is excited to announce it has partnered with Retargetly, the leading data intelligence platform in Latin America, to deliver the first cookieless targeting solution specifically tailored for the Latin America region.

The agreement is regional, with a focus on the main countries in the region: Argentina, Chile, Peru, Colombia, Mexico, and Brazil, and marks the first solution of its kind in the region. The solution uses artificial intelligence to understand which contexts are most akin to Retargetly audiences and allows to reach those audiences without the need for cookies or other user-tracking IDs. 

Comscore’s Predictive Audiences represent the first solution in the industry to have the ability to target audiences at scale without relying on cookies, allowing advertisers to reach audiences based on granular consumer behavior through privacy-based contextual cues. 

With the new partnership, Comscore’s capabilities are combined with Retargetly’s ability to reach unique audiences across Latin America, leveraging Comscore’s unparalleled expertise in creating innovative solutions from one of the world’s largest direct panels. Retargetly’s data platform is used by more than 300 brands across the region.

“With the demise of third-party cookies fast approaching, advertisers and agencies need new solutions to ensure their campaigns continue to reach the right audiences,” said Santi  Darmandrail,  Chief Revenue & Product Officer at Retargetly. “We are excited to announce this agreement, which is going to change the way we think about contextual audiences in Latin America. This partnership represents the continuation of a tradition we have of working with the world’s leading companies to create unique products in the region.”

Comscore’s solution consists of new Predictive Audiences segments and marks the latest enhancement to Comscore’s cookie-free solutions within the Comscore Activation suite, which helps advertisers reach audiences  based on age and gender demographics, TV viewership, OTT consumption, and consumer behaviors such as automotive purchase data, location data, B2B, and non-FCRA financial data in brand-safe, relevant contexts across desktop, mobile, and Connected TV.

“Being able to deliver cookie-free privacy-forward audiences to the LATAM markets is critical,” said Leonidas Rojas, LATAM South Cone Director at Comscore. “We are thrilled to partner with Retargetly, the leader in Latin America audience targeting solutions, to bring this innovation to advertisers.”     

About Comscore
Comscore (NASDAQ: SCOR) is a trusted partner for media planning, transaction and evaluation across platforms. With a large data asset that combines the intelligence of visualization in digital, linear TV, OTT and movie theaters with advanced audience insights,  Comscore enables media buyers and sellers to quantify their behavior across multiple screens and make accurate decisions. A proven leader in measuring digital and television audiences, as well as advertising at scale, Comscore is the industry’s new external source for reliable and comprehensive cross-platform  measurement.

To learn more about how Comscore’s contextual targeting solutions can help you optimize your audience engagement in a rapidly-evolving media environment, visit: https://www.comscore.com/Products/Activation

About Retargetly
Retargetly is the leading data platform in Latin America, enabling solutions around consumer data in the region. Its technology processes more than 110 billion events per month and transforms them into actionable analytics that are the driving point for targeting, metering, enriching, and decisioning solutions. It has clients throughout the region, with teams in Miami, Buenos Aires, São Paulo and Mexico City. For more information, please visit retargetly.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/comscore-and-retargetly-partner-to-extend-cookieless-targeting-solution-in-latin-america-301321660.html

SOURCE Comscore

HANGZHOU, China, June 29, 2021 /PRNewswire/ — Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ), a leading membership-based social e-commerce platform, today announced that it has officially launched its “Yunji 99” special sales portal on its Yunji App. Prominently featured on the Yunji app’s main page, the portal funnels the platform’s core traffic to a refined selection of megahit products across all categories. The addition of this section reinforces the Company’s strategy of cultivating megahit product sales by connecting Yunji members to quality items with viral appeal.

The “Yunji 99” special sale portal will feature a curated selection of up to 99 products each day. Products will be selected based on sales volume and customer ratings, highlighting items with cumulative sales of more than 100,000 units and top selling products from each category. Of the selection, the top ten best sellers will be highly endorsed. Providing such high-quality brands at affordable prices enhances the Yunji shopping experience and encourages consumer orders. The Company will continue to optimize its merchandise selection and utilize data-driven insights to enhance the Yunji shopping experience and provide its users a true one-stop solution.

Shanglue Xiao, Founder and CEO of Yunji, commented, “Our hope is to build the Yunji 99 portal into an internet-wide hotspot for some of the best-selling products at great value. This latest update of our mobile app connects the back-end commodity supply chain and our front-end users, leveraging big data to create an integrated marketing platform. This announcement is a key step forward in our ongoing efforts to channel traffic from the public domain to our own platform. Through numerous partnerships and collaborations, we are utilizing content distribution channels, including short-form videos and livestreaming platforms, to generate more exposure and interest in our products and create a true one-stop brand marketing solution.”

Safe Harbor Statements

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the quotations from management in this announcement, as well as Yunji’s strategic and operational plans, contain forward-looking statements. Yunji may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Yunji’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Yunji’s growth strategies; its future business development, results of operations and financial condition; its ability to understand buyer needs and provide products and services to attract and retain buyers; its ability to maintain and enhance the recognition and reputation of its brand; its ability to rely on merchants and third-party logistics service providers to provide delivery services to buyers; its ability to maintain and improve quality control policies and measures; its ability to establish and maintain relationships with merchants; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of China’s e-commerce market; PRC governmental policies and regulations relating to Yunji’s industry, and general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Yunji’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Yunji undertakes no obligation to update any forward-looking statement, except as required under applicable law.

About Yunji Inc.

Yunji Inc. is a leading social e-commerce platform in China that has pioneered a unique, membership-based model to leverage the power of social interactions. The Company’s e-commerce platform offers high-quality products at attractive prices across a wide variety of categories catering to the day-to-day needs of Chinese consumers. In addition, the Company uses advanced technologies including big data and artificial intelligence to optimize user experience and incentivize members to promote the platform as well as share products with their social contacts. Through deliberate product curation, centralized merchandise sourcing, and efficient supply chain management, Yunji has established itself as a trustworthy e-commerce platform with high-quality products and exclusive membership benefits, including discounted prices.

For more information, please visit https://investor.yunjiglobal.com/

Investor Relations Contact
Yunji Inc.
Investor Relations
Email: [email protected]
Phone: +1 (646) 224-6957

ICR, LLC.
Robin Yang
Email: [email protected]
Phone: +1 (646) 224-6957

View original content:https://www.prnewswire.com/news-releases/yunji-launches-new-yunji-99-special-sales-portal-on-mobile-app-301321618.html

SOURCE Yunji Inc.

GUELPH, ON, June 29, 2021 /PRNewswire/ — Canadian Solar Inc. (the “Company”, or “Canadian Solar”) (NASDAQ: CSIQ), one of the world’s largest solar power companies, today announced that it has been awarded 86 MWp in Japan’s 8^th solar energy auction, accounting for the largest share of the total capacity auctioned.

The total of 86 MWp includes three projects located in the Tohoku region: an 80 MWp project in Miyagi Prefecture, a 3 MWp project located in Fukushima Prefecture and a 3 MWp project located in Aomori Prefecture.  Once constructed, these projects will enter into a 20-year power purchase agreement with Tohoku Power Electric Company at a weighted average rate of ¥10.77 ($0.098) per kWh. The Company expects the projects to reach commercial operation between the years of 2024 and 2026.

Canadian Solar has the largest cumulative market share in Japan’s feed-in-tariff (FIT) auction program since its launch in 2017. It is also the only company that has participated and won projects in every Japanese FIT auction, demonstrating the Company’s competitiveness and commitment to this market. Since entering Japan’s solar project development business in 2011, the Company has executed on over 45 projects across the country and is currently in the process of executing on nearly 30 projects to be delivered over the next 3-5 years.

“We continue to grow our market presence in Japan. The 80 MWp project in Miyagi will become the second largest project we have developed in this market and will add to our existing portfolio of more than 450 MWp of utility-scale projects that are operational or under construction,” commented Dr. Shawn Qu, Chairman and CEO of Canadian Solar. “We have operated in Japan for ten years and have a long-term commitment to it, helping to achieve its 2050 goal for net carbon neutrality. Our business structure in Japan gives us a competitive advantage as we have strong local solar project development, operations and maintenance and asset management teams. We have also sponsored and partially own the largest listed infrastructure fund in Japan, the Canadian Solar Infrastructure Fund (TSE: 9284) which continues to help fund future growth in this sector, and have a leading module brand presence across the rooftop and utility-scale market segments.”

About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world’s largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years, Canadian Solar has successfully delivered over 55 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the solar project development business in 2010, Canadian Solar has developed, built and connected over 5.7 GWp in over 20 countries across the world. Currently, the Company has around 500 MWp of projects in operation, nearly 6 GWp of projects under construction or in backlog (late-stage), and an additional 15 GWp of projects in pipeline (mid- to early- stage). Additionally, Canadian Solar has 1.2 GWh of battery storage projects under construction, and nearly 17 GWh of battery storage projects in backlog or pipeline. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements
Certain statements in this press release, including but not limited to the use of proceeds, are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the “Safe Harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as “believes,” “expects,” “anticipates,” “intends,” “estimates,” the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India, China and Brazil; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; delays in the process of qualifying to list the CSI Solar subsidiary in the PRC; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company’s SEC filings, including its annual report on Form 20-F filed on April 19, 2021. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today’s date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/canadian-solar-secures-86-mwp-in-japans-8th-solar-auction-solidifying-its-1-market-share-position-in-japan-301321643.html

SOURCE Canadian Solar Inc.

LAS VEGAS, June 29, 2021 /PRNewswire/ — Southwest Gas Holdings, Inc. (NYSE: SWX) announced today that its wholly-owned subsidiary, Centuri Group, Inc. (“Centuri”), has entered into a definitive agreement under which Centuri will acquire Riggs Distler & Company, Inc. and its affiliates (“Riggs Distler”). Founded in 1909, and based in Cherry Hill, New Jersey, Riggs Distler has extensive relationships and long-term Master Service Agreements (MSA) with nearly all of the major investor-owned electric utilities in the Northeast and Mid-Atlantic regions and provides unionized installation and repair services to its utility customers.

“This is an exciting and transformational acquisition for Centuri that will grow and diversify its utility services platform, while opening up exciting new opportunities in electric utility services, renewable energy, and 5G telecom,” said John P. Hester, President and Chief Executive Officer of Southwest Gas Holdings. “Consistent with our excellent track record from prior acquisitions, we are confident this transaction will deliver significant growth opportunities for Centuri and long-term value for Southwest Gas Holdings shareholders by building upon our fundamental business strategies of operational excellence, strategic growth, and financial stewardship across both segments of our business. In addition, the Riggs Distler acquisition will further enhance the powerful synergy of knowledge gained and shared through front-line experience in diverse geographic markets across our utility and infrastructure platforms.”

Under the terms of the transaction, Centuri will acquire a 100% ownership interest in Riggs Distler for $855 million in cash subject to customary adjustments, including working capital. The all-cash purchase is expected to be fully funded by new Centuri debt.

The transaction, which is expected to be accretive to SWX earnings in the first full year following its completion, will broaden Centuri’s electric services platform to include 5G telecom and renewables services, where Riggs Distler helps utility customers design, build and integrate essential decarbonization solutions including deployment of smart meters, electric vehicle charging stations, battery storage and microgrids. The acquisition will expand Centuri’s operating footprint into new markets in the Northeast and Mid-Atlantic region and allow it to serve additional customers with an increased array of complementary capabilities and partner with those customers on their long-term programmatic infrastructure spending plans. The transaction also will enhance Centuri’s utility service offerings for existing customers, further positioning the combined companies for future growth.

Paul M. Daily, President and Chief Executive Officer of Centuri, said, “Our targeted acquisition strategy has prioritized expanding our unionized electric utility services, geographic reach and customer base, and this transaction meets all of our criteria. Riggs Distler is an exceptional company with a strong, seasoned leadership team and substantial growth trajectory. This is an excellent opportunity to expand our services, and importantly, to add a unionized electric utility services platform to our current utility infrastructure portfolio, materially advancing our goal to provide 360 degrees of service to our utility infrastructure customers. We believe there are substantial growth opportunities for the combined organizations, and we are committed to providing the resources and operational support to ensure a highly successful partnership.”

Stephen Zemaitatis Jr., President and Chief Executive Officer of Riggs Distler, said, “We are proud to join Centuri, a company that shares our century old core values of commitment to safety, operational excellence, and delivering high quality, competitive, and essential services to customers. United, we will benefit from greater financial strength, growth and diversification. We look forward to creating long-term value for all stakeholders, including world-class service for our customers and solid opportunities for our employees.”

The transaction is expected to close in the third quarter of 2021, subject to Hart Scott Rodino clearance and other customary closing conditions. Following the close of the transaction, Riggs Distler will operate as a standalone subsidiary of Centuri within its Power Group and will continue to be led by Mr. Zemaitatis and its current senior leadership team.

Southwest Gas Holdings will host a conference call with analysts today at 8:30 a.m. EDT / 5:30 a.m. PDT. To listen to the conference call via the Internet, please visit the investor relations section of Southwest Gas Holdings’ website. To listen to the conference call via telephone, please call (877) 419-3678 (domestic) or (614) 610-1910 (international), Conference ID: 2489927. A replay of the call will be available from 12:00 p.m EDT on June 29, 2021 through 12:00 p.m. EDT on July 9, 2021. To listen to the replay of the conference call via telephone, please call (855) 859-2056 (domestic) or (404) 537-3406 (international), Conference ID: 2489927.

UBS Investment Bank served as the exclusive financial advisor to Centuri, while the firm of Foley & Lardner, LLP served as legal advisors to Centuri on the transaction. Morrison & Foerster LLP served as legal advisor to Southwest Gas Holdings. Harris Williams & Co. served as financial advisor to Riggs Distler and Kirkland & Ellis LLP as legal counsel.

About Southwest Gas Holdings, Inc.
Southwest Gas Holdings has two business segments:
Southwest Gas Corporation provides safe and reliable natural gas service to over 2 million customers in Arizona, California and Nevada.
Centuri Group, Inc. is a comprehensive utility infrastructure services enterprise dedicated to delivering a diverse array of solutions to North America’s gas and electric providers.

About Riggs Distler & Co., Inc.
Founded in 1909, Riggs Distler self-performs turnkey union construction solutions in the utility, telecom, and industrial markets in the Northeast and Mid-Atlantic regions.

Forward-Looking Statements
This press release may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The ultimate occurrence of events and results referenced in these forward-looking statements is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. Among others, these statements relate to the anticipated acquisition of Riggs Distler, the anticipated timing for closing the transaction, the anticipated timing and impact to our earnings, our expectations regarding our ability to integrate Riggs Distler, and our expectations with respect to the impact of the Riggs Distler acquisition on our Centuri infrastructure business. No assurance can be given that the Riggs Distler acquisition will be completed on the terms described, or at all, or that we will achieve the anticipated benefits. Completion of the Riggs Distler acquisition is subject to numerous risks and conditions, many of which are beyond the control of the Company, including market conditions, general economic conditions and other factors, including those set forth under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, and those set forth in the Company’s other reports and information filed with the SEC, which are accessible on the SEC’s website at www.sec.gov.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/southwest-gas-holdings-subsidiary-centuri-group-to-acquire-riggs-distler-strengthening-centuris-position-as-a-leading-north-american-utility-infrastructure-services-company-301321505.html

SOURCE Southwest Gas Holdings, Inc.

All amounts are in U.S. dollars unless otherwise indicated.

VANCOUVER, BC, June 29, 2021 /PRNewswire/ – Maverix Metals Inc. (the “Company” or “Maverix”) (NYSE American: MMX) (TSX: MMX) is pleased to announce the acquisition of a portfolio of precious metals royalties from Pan American Silver Corp. (“Pan American Silver”).

Maverix has acquired a portfolio of six royalties from Pan American Silver in exchange for 491,071 common shares of Maverix and a cash payment of $7,000,000.

Ryan McIntyre, President of Maverix, commented, “We are happy to have completed the purchase of this gold-focused royalty portfolio from Pan American Silver, our most tenured strategic shareholder. This acquisition adds future option value to our overall asset portfolio which now boasts 121 royalty and stream assets, 13 of which are currently paying and a number of which are on advanced stage projects.”

Royalty Portfolio

Key Assets

Fenn-Gib Royalty

A 1.0% – 2.5% net smelter return (“NSR”) royalty on a portion of the Fenn-Gib gold project, operated by Mayfair Gold Corp. (“Mayfair Gold”) and located in the Timmins gold camp in Ontario which hosts an indicated resource estimate of 70.2 million tonnes at 0.92 grams per tonne (“g/t”) gold containing 2.1 million ounces of gold and an inferred resource of 3.8 million tonnes at 0.62 g/t gold containing 0.1 million ounces of gold. The Fenn-Gib project comprises approximately 4,800 hectares, of which more than 75% is unexplored. The project is part of the extensive and prolific Abitibi Gold Belt. Mayfair Gold, the owner of the project, is currently undertaking a 50,000 metre infill and expansion drill program on the project.⁽²⁾

For more information on Fenn-Gib please visit www.mayfairgold.ca.

Recuperada Royalty

A 3.0% NSR royalty on a portion of the Recuperada property located in Huancavelica, Peru. The property is a past producer and currently has an inferred resource of 7.3 million tonnes at 131 g/t silver, 3.17% lead and 2.04% zinc containing 30.7 million ounces of silver, 513 million pounds of lead, and 377 million pounds of zinc. Silver X Mining Corp. (“Silver X”) and Mines and Metals Trading (Peru) PLC recently completed a business combination to create Latin America’s next low-cost silver producer. Silver X is well-financed to fund the maiden 30,000 metre drill campaign that is currently underway at the Recuperada project, with more than C$14 million raised in a concurrent financing. The goal of the drill program is to optimize operations and collect the data required to expand the current inferred resource at Recuperada.⁽³⁾

For more information on Recuperada please visit www.silverx-mining.com.

Juby Royalty

A 1.0% NSR royalty on the advanced exploration-stage Juby project operated by Aris Gold Corporation (“Aris Gold”) and located in Ontario, Canada, 100 kilometres south-southeast of the Timmins gold camp within the Shining Tree area in the southern part of the Abitibi greenstone belt. The Juby project has excellent access to infrastructure including a major highway, a power transmission line that passes through the property and an abundance of water in the region. A 2020 mineral resource estimate shows an indicated mineral resource of 21.3 million tonnes at 1.17 g/t gold containing 0.8 million ounces of gold and an inferred mineral resource of 47.1 million tonnes at 1.01 g/t gold containing 1.5 million ounces of gold. Aris Gold has recently commenced an initial 10,000 metre drill program at the Juby project with drilling expected to begin in the third quarter of 2021. Aris Gold has the right to buy back 0.5% of the royalty for a cash payment of $5,000,000.⁽⁴⁾

For more information on Juby please visit www.arisgold.com.

Qualified Person

Brendan Pidcock, P.Eng., is Vice President Technical Services for Maverix, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this news release.

About Maverix

Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 100 assets. Maverix’s mission is to increase per share value by acquiring precious metals royalties and streams. Its shares trade on both the NYSE American and the TSX under the symbol “MMX”.

Cautionary statements to U.S. investors

Information contained or referenced in this press release or in the documents referenced herein concerning the properties, technical information and operations of Maverix has been prepared in accordance with requirements and standards under Canadian securities laws, which differ from the requirements of US securities laws. The terms “mineral resource” and “inferred mineral resource” used in this press release or in the documents incorporated by reference herein are mining terms as defined in accordance with NI 43-101 under guidelines set out in the Definition Standards for Mineral Resources and Mineral Reserves adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on 11 December 2005. While the terms “mineral resource”, and “inferred mineral resource” are recognized and required by Canadian securities laws, they are not recognized by SEC standards and normally are not permitted to be used in reports filed with the SEC. Investors are cautioned not to assume that all or any part of the disclosed mineral resource estimates will ever be confirmed or converted into reserves that meet the definitions used by the SEC. Disclosure of contained ounces are or may be permitted disclosure under regulations applicable to Maverix; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit of production measures. Accordingly, certain information contained in this press release concerning descriptions of mineralization and mineral resources under these standards may not be comparable to similar information made public by US companies subject to reporting and disclosure requirements of the SEC.

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, completion of certain anticipated milestones, transactions and developments by the operators of certain underlying projects and mines in respect of Maverix’s royalty and stream portfolio, anticipated future cash flows, future financial reporting by Maverix, the receipt of payments from Maverix’s mining royalty and streaming portfolio, the requirements for regulatory approvals and third party consents, and the completion of mine expansion under construction phases at the mines or properties that Maverix holds an interests in. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: impact of general business and economic conditions; the absence of control over mining operations from which Maverix will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Maverix; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics and other public health crises, including the current outbreak of the novel coronavirus known as COVID-19 on Maverix’s business, operations and financial condition, loss of key employees, as well as those risk factors discussed in the section entitled “Risk Factors” in Maverix’s annual information form dated March 23, 2021 available at www.sedar.com. Maverix has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Maverix undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.

Technical and third-party information

The disclosure herein and relating to properties and operations on the properties in which Maverix holds royalty, stream or other interests is based on information publicly disclosed by the owners or operators of these properties and information/data available in the public domain as at the date hereof, and none of this information has been independently verified by Maverix. Specifically, as a royalty or stream holder, Maverix has limited, if any, access to properties included in its asset portfolio. Additionally, Maverix may from time to time receive operating information from the owners and operators of the properties, which it is not permitted to disclose to the public. Maverix is dependent on, (i) the operators of the properties and their qualified persons to provide information to Maverix, or (ii) on publicly available information to prepare disclosure pertaining to properties and operations on the properties on which Maverix holds royalty, stream or other interests, and generally has limited or no ability to independently verify such information. Although Maverix does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. Some information publicly reported by operators may relate to a larger property than the area covered by Maverix’s royalty, stream or other interest. Maverix’s royalty, stream or other interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

View original content to download multimedia:https://www.prnewswire.com/news-releases/maverix-acquires-royalty-portfolio-from-pan-american-silver-301321596.html

SOURCE Maverix Metals Inc.

TEL AVIV, Israel and HOUSTON, June 29, 2021 /PRNewswire/ — Arbe Robotics Ltd. (“Arbe”), a global leader in next-generation 4D Imaging Radar Solutions, has submitted a draft of a Registration Statement on Form F-4 to the U.S. Securities and Exchange Commission with respect to its proposed business combination with Industrial Tech Acquisitions, Inc. (“ITAC”) (NASDAQ: ITAC), a publicly traded special purpose acquisition company.

Scott Crist, CEO of ITAC, commented: “We are excited to be completing this next step of the process in combining with Arbe Robotics.  Over the past few months, we have continued to work with the Arbe team and are increasingly encouraged by the traction from the auto sector, as well as the interest from participants in industries outside of auto.  As a result, we remain confident about market penetration and adoption of Arbe’s leading technology.”

On March 18, 2021, Arbe and ITAC announced that they had entered into a definitive business combination agreement (the “Business Combination Agreement”).  On June 28, 2021, Arbe, ITAC and Autobot MergerSub, Inc., a Delaware corporation and a wholly owned subsidiary of Arbe (“Merger Sub”), entered into the First Amendment to the Business Combination Agreement, effective as of June 28, 2021, pursuant to which the parties extended the outside deadline by which the business combination must be completed from August 31, 2021 to October 31, 2021 and addressed the change in treatment of ITAC’s warrants from equity to liability and the consequences of such change. 

The business combination is subject to customary closing conditions, including the approval of ITAC’s stockholders and the listing of Arbe’s ordinary shares on The Nasdaq Stock Market.

About Arbe Robotics, Ltd.

Arbe, a global leader in next-generation 4D Imaging Radar Chipset Solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Empowering automakers, tier-1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm-changing perception, Arbe’s imaging radar is 100 times more detailed than any other radar on the market and is a mandatory sensor for L2+ and higher autonomy. Arbe is a leader in the fast-growing automotive radar market that has an estimated total addressable market of $11 billion in 2025. Arbe is based in Tel Aviv, Israel, and has an office in the United States.

About Industrial Tech Acquisitions, Inc.

ITAC is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. ITAC is sponsored by Texas Ventures, a leading technology and venture capital firm with expertise in capital markets and structured finance. The firm provides guidance, insight and capital to assist entrepreneurs and managers who have the desire and talent to build exceptional companies. The Texas Ventures’ approach is to identify emerging trends and opportunities prior to recognition by the broader marketplace, and to take a proactive approach in working with entrepreneurs and managers who have the determination to build world-class companies.

Important Notice Regarding Forward-Looking Statements 

This press release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about ITAC and Arbe and the transactions contemplated by the Business Combination Agreement (the “Transactions”), and the parties’ perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the Transactions, including the anticipated initial enterprise value and post-closing equity value, the benefits of the Transactions, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the Transactions. The words “expect,” “believe,” “estimate,” “intend,” “plan,” “anticipate,” “project,” “may,” “should,” “potential” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

Such risks and uncertainties include, but are not limited to, risks related to: (i) the expected timing and likelihood of completion of the Transactions, including the risk that the Transactions may not be consummated due to one or more closing conditions to the Transactions in the Business Combination Agreement not being satisfied or waived on a timely basis or otherwise, or that the required approval of the Business Combination Agreement and related matters by the shareholders of Arbe and ITAC are not obtained; (ii) a default by one or more of the investors in the PIPE on its commitment, and ITAC’s failure to retain sufficient cash in its trust account or find replacement financing in order to meet the $100 million minimum cash condition in the Business Combination Agreement; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; (iv) the ability of Arbe to meet Nasdaq listing standards following the Transactions and in connection with the consummation thereof; (v) costs related to the proposed Transactions; (vi) the occurrence of a material adverse change with respect to the financial position, performance, operations or prospects of  Arbe or ITAC; (vi) the disruption of Arbe management’s time from ongoing business operations due to the proposed Transactions; (vii) announcements relating to the Transactions having an adverse effect on the market price of ITAC’s securities; (viii) the effect of the Transactions and the announcement thereof on the ability of Arbe to retain customers and retain and hire key personnel and maintain relationships with its suppliers and customers and on its operating results and businesses generally; (ix) the failure of Arbe to meet projected development and production targets; (x) changes in applicable laws or regulations, including laws and regulations affecting the market for Arbe’s products; (xi) the possibility that the combined company may be adversely affected by other economic, business, and/or competitive factors, or the continuing effects of the COVID-19 pandemic, the worsening thereof or other future pandemics; (xii) the effect of the treatment of ITAC’s warrants (and Arbe’s warrants following completion of the merger) as liabilities rather than as equity and the market’s reaction to changes in Arbe’s earnings resulting from changes in the warrant liability; and (xiii) other risks and uncertainties, including those to be identified in the proxy statement/prospectus (when available) relating to the Transactions, including those under “Risk Factors,” “Cautionary Notes Concerning Forward-Looking Statements” and “Arbe Management’s and Analysis of Financial Conditions and Results of Operations” therein, and in other filings with the SEC by ITAC or Arbe.  ITAC and Arbe caution that the foregoing list of factors is not exclusive.  Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and ITAC and Arbe undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

ADDITIONAL INFORMATION

General

Arbe has filed with the SEC a Registration Statement on Form F-4 (as amended, the “Registration Statement”), which includes a preliminary proxy statement of ITAC, and a preliminary prospectus in connection with the proposed Transactions involving Arbe and ITAC. The definitive proxy statement and other relevant documents will be mailed to stockholders of ITAC as of a record date to be established for voting on the Transactions and related matters. Stockholders of ITAC and other interested persons are advised to read, when available, the preliminary proxy statement, and amendments thereto, and the definitive proxy statement in connection with ITAC’s solicitation of proxies for the special meeting of its stockholders to be held to approve the Transactions and related matters because these documents will contain important information about ITAC, Arbe, Merger Sub and the Transactions. Stockholders of ITAC will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus, without charge, once available, on the SEC’s website at www.sec.gov or by directing a request to ITAC by contacting E. Scott Crist, Chief Executive Officer, c/o Industrial Tech Acquisitions, Inc., 5090 Richmond Avenue, Suite 319, Houston, Texas 77056, at (713) 599-1300 or at [email protected].

Participants in the Solicitation

ITAC, Arbe and certain of their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the shareholders of ITAC in favor of the approval of the Transaction. Stockholders of ITAC and other interested persons may obtain more information regarding the names and interests in the Transactions of ITAC’s directors and officers in ITAC’s filings with the SEC. Additional information regarding the interests of such potential participants will also be included in the Registration Statement and other relevant documents when they are filed with the SEC. Free copies of these documents may be obtained at the SEC’s website, https://www.sec.gov/edgar/searchedgar/companysearch.html, or as provided in the preceding paragraph.

View original content:https://www.prnewswire.com/news-releases/industrial-tech-acquisitions-and-arbe-robotics-announce-submission-of-draft-registration-statement-to-the-securities-and-exchange-commission-with-respect-to-proposed-business-combination-301321736.html

SOURCE Arbe

HOUSTON, June 29, 2021 /PRNewswire/ — Oasis Petroleum Inc. (NASDAQ: OAS) (“Oasis” or the “Company”) announced today that upon the closing of the offering by Oasis Midstream Partners LP (NASDAQ: OMP) of 3,623,188 of its common units at a price of $24 per unit (the “Offering”), OMP would use the proceeds of the Offering to redeem an equal number of common units held by a subsidiary Oasis (the “Redemption”).  The closing of the Offering and the Redemption are scheduled to occur today, June 29, 2021. The Offering was designed to improve OMP’s liquidity while highlighting the value of Oasis’s ownership.  OMP remains a valuable and important asset to Oasis.  In connection with the Offering, the Redemption will reduce Oasis’s approximate ownership from 77.1% to 69.6%.

Additionally, Oasis declared a special dividend of $4.00 per share.  The special dividend is payable July 21, 2021 to stockholders of record as of July 9, 2021.  Oasis continues to expect increasing its fixed dividend 33% to $2.00 per share (on an annualized basis) upon closing of its previously announced Williston acquisition in late July. 

“OMP’s public offering and redemption of common units held by Oasis, together with Oasis’ announcement of a $4.00 per share special dividend are consistent with our core strategy of emphasizing strong returns and value creation while returning cash to shareholders,” said Danny Brown, Oasis’s Chief Executive Officer.  “The OMP common unit offering accomplishes the mutually beneficial objectives of increasing OMP’s public ownership and liquidity while highlighting the value of Oasis’s ownership.  Oasis will continue to evaluate strategies to increase visibility into its ownership in OMP and close the current sum of the parts discount imbedded in its stock price.  As Oasis generates significant free cash flow, it remains committed to returning cash to shareholders.”

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including the Company’s drilling program, production, derivative instruments, capital expenditure levels and other guidance included in this press release, as well as the impact of the novel coronavirus 2019 (“COVID-19”) pandemic on the Company’s operations. These statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include, but are not limited to, changes in crude oil and natural gas prices, developments in the global economy, particularly the public health crisis related to the COVID-19 pandemic and the adverse impact thereof on demand for crude oil and natural gas, the outcome of government policies and actions, including actions taken to address the COVID-19 pandemic and to maintain the functioning of national and global economies and markets, the impact of Company actions to protect the health and safety of employees, vendors, customers, and communities, weather and environmental conditions, the timing of planned capital expenditures, availability of acquisitions, the ability to realize the anticipated benefits from the Williston Basin acquisition and Permian Basin divestitures, uncertainties in estimating proved reserves and forecasting production results, operational factors affecting the commencement or maintenance of producing wells, the condition of the capital markets generally, as well as the Company’s ability to access them, the proximity to and capacity of transportation facilities, and uncertainties regarding environmental regulations or litigation and other legal or regulatory developments affecting the Company’s business and other important factors that could cause actual results to differ materially from those projected as described in the Company’s reports filed with the U.S. Securities and Exchange Commission. Additionally, the unprecedented nature of the COVID-19 pandemic and the related decline of the oil and gas exploration and production industry may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. Because considerable uncertainty exists with respect to the future pace and extent of a global economic recovery from the effects of the COVID-19 pandemic, the Company cannot predict whether or when crude oil production and economic activities will return to normalized levels.

Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

About Oasis Petroleum Inc.

Oasis Petroleum Inc. is an independent exploration and production company with quality and sustainable long-lived assets in the Williston and Permian Basins. The Company is uniquely positioned with a best-in-class balance sheet and is focused on rigorous capital discipline and generating free cash flow by operating efficiently, safely and responsibly to develop its unconventional onshore oil-rich resources in the continental United States. For more information, please visit the Company’s website at www.oasispetroleum.com.

 

View original content:https://www.prnewswire.com/news-releases/oasis-petroleum-inc-announces-expected-redemption-of-omp-common-units-and-declares-4-00-per-share-special-dividend-301321748.html

SOURCE Oasis Petroleum Inc.